Intel Puts a Ring on It With Interim CEO Swan

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1/31/2019
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SANTA CLARA, Calif. -- Intel Corporation today announced that its board of directors has named Robert (Bob) Swan as chief executive officer. Swan, 58, who has been serving as Intel’s interim CEO for seven months and as chief financial officer since 2016, is the seventh CEO in Intel’s 50-year history. Swan has also been elected to Intel’s board of directors.

Todd Underwood, vice president of Finance and director of Intel’s Corporate Planning and Reporting, will assume the role of interim chief financial officer as the company undertakes an internal and external search for a permanent CFO.

“As Intel continues to transform its business to capture more of a large and expanding opportunity that includes the data center, artificial intelligence and autonomous driving, while continuing to get value from the PC business, the board concluded after a thorough search that Bob is the right leader to drive Intel into its next era of growth,” said Chairman Andy Bryant. "Important in the board’s decision was the outstanding job Bob did as interim CEO for the past seven months, as reflected in Intel’s outstanding results in 2018."

As interim CEO, Swan has managed the company’s operations in close collaboration with Intel’s senior leadership team. Swan has been Intel’s CFO since October 2016. In this role, he led the global finance, mergers and acquisitions, investor relations, IT and corporate strategy organizations. Prior to joining Intel, Swan served as an operating partner at General Atlantic LLC and served on Applied Materials’ board of directors. He previously spent nine years as CFO of eBay Inc., where he is currently a director. Earlier in his career, he was CFO of Electronic Data Systems Corp. and TRW Inc. He also served as CFO, COO and CEO of Webvan Group Inc., and began his career at General Electric, serving for 15 years in several senior finance roles.

Intel Corp. (Nasdaq: INTC)

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